The UK legal services market is a huge financial entity and one that was valued at £37 billion in 2020.
Of course, this is also an incredibly diverse sector and one that’s driven by everything from private practice firms with elements of corporate law to patent attorneys and a raft of other legal service providers.
Corporate law is a significant legal entity by itself, particularly as it involves large-scale acquisitions and the merging of two or more companies into a single business. But how can you get involved in corporate law, and is it a career for you?
Getting Started With the Basic Requirements
Unsurprisingly, anyone wanting to work in corporate law will be required to obtain an initial law degree. This will usually take three years to complete, at which point you must pursue a postgraduate diploma (LPC).
Referring to a ‘Legal Practice Course’, an LPC is usually undertaken immediately after you’ve completed your undergraduate degree or law conversion course. This will involve working first-hand at a legal firm, so you may have to apply to potential employers during your undergraduate course.
Full-time LPCs usually start each September and take a single academic year to complete, while you may need two years if you undertake the course on a part-time basis.
What Skills Will You Need to Work in Corporate Law?
While basic qualifications are a necessity to work in corporate law, there’s also a selection of soft skills that can help you to stand out in the eyes of employers.
Firstly, you’ll need outstanding communication and negotiation skills. This is in part due to the fact that you may have to liaise on high-value company acquisitions and mergers, which may boast complex structures and require negotiation skills to iron out specific details. Such skills will be in particularly high demand when working with mergers and acquisition legal specialists, so keep this in mind if this is your chosen area of corporate law.
Of course, these skills must also be underpinned by extensive knowledge of business law, along with a keen sense of teamwork that allows for collaboration when representing large-scale corporate clients or working on especially large deals.
Surprisingly, you may also need creativity if you’re to stand out from your rival candidates for work. The reason for this is simple; this lends itself to effective problem solving and negating the issues that may occur during the course of negotiations.
What About Work Experience?
Prior to finding work in the field of corporate law, you should understand the competitiveness of this niche and the demand for job roles among a relatively small number of qualified workers.
So, it may be worth being proactive and contacting law firms to organise internships and work experience. You can do this while studying or following the completion of your LPC, as you look to gain practical skills and an understanding of the industry.
Regardless of how much work experience you actually gain; this will encourage employers to look at you favourably and give you credit for your enthusiasm and endeavour.
